Well, here we all are, waiting to see what happens next. Are we heading for a big crash? Recession? Inflation? Stagflation?
Most of us are probably paralyzed. We don't dare touch our investments because we can't think of any safer place to put them. Cash (at least U.S. cash) sure doesn't seem like a good idea and while gold and diamonds are probably "safe", paying your bills with that can be a little difficult. So we sit and wait..
Let's look on the bright side. You never did convert your IRA's to Roth's because the tax bite would be too painful? Well, a big crash might make that bite into a nibble or even a profitable kiss.
The next few months or years could be your chance to buy stocks at rock bottom prices. When and if we recover, small investments made during the blackness could be very profitable. And if we never do recover? Well, then none of it matters anyway, right?
Oh sure, there are other things to worry about. Times like this are ripe for religious crazies to try to take over the country and make "The Handmaiden's Tale" a reality. On the other hand, it could mean the rebirth of liberalism and a rejection of unfettered capitalism.
People are going to lose jobs. A lot of companies depend on credit to make payrolls during slow periods and if they can't get it, they'll have to cut back. The bright side of that is that independent consultants will be much more in demand: you might have some collection issues now and then, but you should be busier than ever.
Nobody knows all the effects of something like this, but it's never all bad. There will be opportunities - you just need to look for them.
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More Articles by Anthony Lawrence © 2012-07-11 Anthony Lawrence
Today’s computers are not even close to a 4-year-old human in their ability to see, talk, move, or use common sense. One reason, of course, is sheer computing power. It has been estimated that the information processing capacity of even the most powerful supercomputer is equal to the nervous system of a snail—a tiny fraction of the power available to the supercomputer inside [our] skull. (Steven Pinker)